BOSTON, May 22 (Reuters) – U.S. money manager T. Rowe Price
Group Inc on Wednesday said it plans to launch 11 new
target-date funds that will put less emphasis on stocks before
retirement and more on bonds.
The Baltimore-based company filed a preliminary prospectus
with the U.S. Securities and Exchange Commission for the series
of funds called the T. Rowe Price Target Retirement Funds.
The funds will promote asset accumulation before retirement
while supporting income withdrawals over a moderate
post-retirement period, the company said in a press release.
Assets in the new series of funds will include about 42.5
percent in stocks at the named retirement date, compared to 55
percent for existing T. Rowe retirement funds.
T. Rowe currently has $88.1 billion in assets in its
existing lineup of retirement funds. The new funds should be
available to investors on Aug. 22.
